09/19/2023
https://www.congress.gov...
"So each year credit card companies squeeze billions of dollars in fees out of American consumers, and chief among these are the late fees that you were just discussing, the 20 bucks or 30 bucks or 40 ..."
"If a bank needs to charge more than $8 to cover the actual cost of collecting missed payments, would the proposed rule permit that?"
"Make no mistake. These overdraft reforms and the $5.5 billion in savings would never have happened without the Consumer Financial Protection Bureau."
"The CFPB is helping Americans save money on their homes and their bank accounts and their medical bills."